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REGISTERED NUMBER: 03916792 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 June 2023

for

MCCABE & BARTON LIMITED

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCCABE & BARTON LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: G McCabe
C Goldie
A J G Holley





SECRETARY: G McCabe





REGISTERED OFFICE: Gossard House 5th Floor
7 Savile Row
Mayfair
London
W1S 3PE





REGISTERED NUMBER: 03916792 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Balance Sheet
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 22,500
Tangible assets 5 - 6,737
- 29,237

CURRENT ASSETS
Debtors 6 1,016,907 1,266,001
Cash at bank 47,099 53,501
1,064,006 1,319,502
CREDITORS
Amounts falling due within one year 7 (1,246,406 ) (1,553,546 )
NET CURRENT LIABILITIES (182,400 ) (234,044 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(182,400

)

(204,807

)

CAPITAL AND RESERVES
Called up share capital 840 840
Share premium 149,980 149,980
Retained earnings (333,220 ) (355,627 )
(182,400 ) (204,807 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Balance Sheet - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





G McCabe - Director


MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023


1. COMPANY INFORMATION

McCabe & Barton Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of nine years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 270,000
AMORTISATION
At 1 July 2022 247,500
Charge for year 22,500
At 30 June 2023 270,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 22,500

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2022
and 30 June 2023 27,695
DEPRECIATION
At 1 July 2022 20,958
Charge for year 6,737
At 30 June 2023 27,695
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 6,737

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 802,486 874,053
Tax - 69,978
Prepayments and accrued income 214,421 321,970
1,016,907 1,266,001

MCCABE & BARTON LIMITED (REGISTERED NUMBER: 03916792)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 191,789 314,897
Amounts owed to group undertakings 142,312 44,715
Social security and other taxes 17,464 98,868
VAT 72,048 30,616
Other creditors 328,337 506,275
Directors' current accounts 120,847 185,847
Accruals and deferred income 373,609 372,328
1,246,406 1,553,546

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 325,142 500,008

Other creditors are secured by a fixed and floating charge over company assets.

9. PENSION COMMITMENTS

At the year end, pension contributions totalling £3,195 (2022 - £6,267) were outstanding and are included within other creditors.

10. RELATED PARTY DISCLOSURES

At 30 June 2023, the company owed £142,312 (2022 - £44,715) to the parent company, Holley Holland Limited.

During the accounting period, the parent company recharged remuneration costs at a non-market rate of £628,040 (2022 - £169,765) to McCabe and Barton Limited.

11. ULTIMATE CONTROLLING PARTY

The company's parent company is Holley Holland Limited whose registered office is at 5th Floor, Gossard House, 7 Savile Row, London, W1S 3PE.